Central Pacific Financial Corp. Appoints Duane Kurisu As Board Member

January 27, 2012

Central Pacific Financial Corp. (NYSE: CPF) (the “Company”), parent company of Central Pacific Bank (“CPB”) (the “Bank”), today announced the appointment of Duane K. Kurisu to the CPF board of directors. Kurisu has served on the Bank board of directors since September 2004, and will continue to serve as a director of both the CPF and CPB boards.

Kurisu is involved in numerous and varied businesses and industries in Hawaii and abroad. He is a real estate investor and owns and manages office buildings, shopping centers, and industrial parks in Hawaii and Washington. He is also the Chairman, CEO, and owner of aio, a holding company for brands focused on Hawaii and the Pacific in the areas of media, sports, and food. The media group consists of: PacificBasin Communications, which publishes a variety of local publications; Watermark Publishing; Talisman LBS, a mobile software company; and Upspring Media, a digital media development and consulting company. KKEA 1420 AM, KHKA 1500 AM, B. Hayman Co., and Hawaii Winter Baseball comprises the sports group. Punaluu Bake Shop, Hukilau Restaurants in San Francisco, San Jose, and Hawaii, and Nutricopia, a nutraceutical company headquartered in Vermont are the principal companies in the food group.

Kurisu is also a director of Island Holdings and Oahu Publications and was a former Regent of the University of Hawaii. He also serves on the boards of numerous community organizations in Hawaii.